Projected Income Statement: Visa, Inc.

Forecast Balance Sheet: Visa, Inc.

Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 760 3,928 335 5,661 6,174 8,967 5,433 174
Change - 416.84% -91.47% 1,589.85% 9.06% 45.24% -39.41% -96.8%
Announcement Date 26/10/21 25/10/22 24/10/23 29/10/24 28/10/25 - - -
1USD in Million
Estimates

Cash Flow Forecast: Visa, Inc.

Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 705 970 1,059 1,257 1,482 1,567 1,645 1,840
Change - 37.59% 9.18% 18.7% 17.9% 5.75% 4.95% 11.87%
Free Cash Flow (FCF) 1 14,522 17,879 19,696 18,693 21,577 23,266 27,402 29,797
Change - 23.12% 10.16% -5.09% 15.43% 7.83% 17.78% 8.74%
Announcement Date 26/10/21 25/10/22 24/10/23 29/10/24 28/10/25 - - -
1USD in Million
Estimates

Forecast Financial Ratios: Visa, Inc.

Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 68.9% 67.12% 67.2% 70.56% 70.78% 70.43% 70.67% 70.8%
EBIT Margin (%) 65.56% 64.19% 64.31% 67.69% 67.74% 67.18% 67.86% 68.02%
EBT Margin (%) 66.64% 61.88% 64.43% 66.57% 60.48% 64.44% 67.4% 67.44%
Net margin (%) 51.07% 51.03% 52.9% 54.95% 50.14% 53.47% 54.59% 54.54%
FCF margin (%) 60.24% 61% 60.32% 52.03% 53.94% 51.06% 54.44% 53.72%
FCF / Net Income (%) 117.96% 119.54% 114.03% 94.68% 107.57% 95.5% 99.74% 98.51%

Profitability

        
ROA 15.03% 17.76% 19.63% 21.34% 20.66% 25.38% 26.93% 30.14%
ROE 33.36% 40.88% 46.49% 50.71% 52.07% 67.42% 69.58% 68.27%

Financial Health

        
Leverage (Debt/EBITDA) 0.05x 0.2x 0.02x 0.22x 0.22x 0.28x 0.15x 0x
Debt / Free cash flow 0.05x 0.22x 0.02x 0.3x 0.29x 0.39x 0.2x 0.01x

Capital Intensity

        
CAPEX / Current Assets (%) 2.92% 3.31% 3.24% 3.5% 3.7% 3.44% 3.27% 3.32%
CAPEX / EBITDA (%) 4.24% 4.93% 4.83% 4.96% 5.23% 4.88% 4.62% 4.69%
CAPEX / FCF (%) 4.85% 5.43% 5.38% 6.72% 6.87% 6.74% 6% 6.18%

Items per share

        
Cash flow per share 1 6.96 8.824 9.954 9.832 11.73 13.31 16.53 18.42
Change - 26.79% 12.81% -1.23% 19.29% 13.47% 24.21% 11.45%
Dividend per Share 1 1.335 1.575 1.87 2.08 2.44 2.702 3.037 3.431
Change - 17.98% 18.73% 11.23% 17.31% 10.74% 12.4% 12.97%
Book Value Per Share 1 22.41 16.66 18.58 19.29 19.28 19.64 20.81 28.02
Change - -25.67% 11.52% 3.83% -0.03% 1.88% 5.94% 34.62%
EPS 1 5.63 7 8.28 9.73 10.2 12.75 14.74 16.67
Change - 24.33% 18.29% 17.51% 4.83% 24.97% 15.63% 13.1%
Nbr of stocks (in thousands) 21,08,330 20,54,493 20,24,878 19,66,086 19,23,336 18,83,903 18,83,903 18,83,903
Announcement Date 26/10/21 25/10/22 24/10/23 29/10/24 28/10/25 - - -
1USD
Estimates
2026 *2027 *
P/E 27.4x 23.7x
PBR 17.8x 16.8x
EV / Sales 14.6x 13.2x
Yield 0.77% 0.87%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AA
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
41
Last Close Price
348.97USD
Average target price
401.16USD
Spread / Average Target
+14.95%

Quarterly revenue - Rate of surprise

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  4. Financials Visa, Inc.